Marshall Wace LLP Lowers Position in FIGS, Inc. (NYSE:FIGS)

Marshall Wace LLP lowered its stake in shares of FIGS, Inc. (NYSE:FIGS) by 68.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 853,571 shares of the company’s stock after selling 1,852,585 shares during the quarter. Marshall Wace LLP’s holdings in FIGS were worth $4,550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Evoke Wealth LLC grew its stake in shares of FIGS by 77.8% in the 4th quarter. Evoke Wealth LLC now owns 19,191 shares of the company’s stock worth $133,000 after acquiring an additional 8,395 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in FIGS by 499.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 214,589 shares of the company’s stock worth $1,491,000 after purchasing an additional 178,800 shares in the last quarter. Seven Eight Capital LP increased its stake in FIGS by 233.6% in the 4th quarter. Seven Eight Capital LP now owns 166,577 shares of the company’s stock valued at $1,158,000 after buying an additional 116,650 shares during the last quarter. Nebula Research & Development LLC bought a new position in shares of FIGS during the 4th quarter worth approximately $843,000. Finally, Wellington Management Group LLP boosted its stake in shares of FIGS by 321.5% in the 4th quarter. Wellington Management Group LLP now owns 3,075,794 shares of the company’s stock worth $21,377,000 after buying an additional 2,345,994 shares during the last quarter. 92.21% of the stock is owned by hedge funds and other institutional investors.

FIGS Trading Down 1.3 %

FIGS stock opened at $6.75 on Wednesday. The business’s 50 day simple moving average is $5.88 and its 200 day simple moving average is $5.44. FIGS, Inc. has a 12 month low of $4.30 and a 12 month high of $7.98. The company has a market cap of $1.15 billion, a price-to-earnings ratio of 61.36, a PEG ratio of 80.53 and a beta of 1.42.

FIGS (NYSE:FIGS) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.01 EPS for the quarter. FIGS had a return on equity of 4.94% and a net margin of 3.39%. The firm had revenue of $144.23 million for the quarter, compared to analysts’ expectations of $142.25 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, equities research analysts forecast that FIGS, Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Heather L. Hasson sold 40,149 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $5.70, for a total value of $228,849.30. Following the sale, the insider now owns 425,710 shares of the company’s stock, valued at $2,426,547. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 43,586 shares of company stock worth $249,902 over the last quarter. 22.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FIGS. The Goldman Sachs Group increased their price target on FIGS from $4.25 to $4.75 and gave the company a “sell” rating in a research report on Friday, August 9th. Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 target price on shares of FIGS in a research note on Monday, August 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $5.40.

About FIGS

FIGS, Inc operates as a direct-to-consumer healthcare apparel and lifestyle company in the United States and internationally. It designs and sells healthcare apparel and scrubwear and non-scrubwear offerings, such as outerwear, underscrubs, footwear, compression socks, lab coats, loungewear, and other apparel.